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Publicação
O impacto bolsista da atribuição do Campeonato do Mundo de Futebol 2030
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O presente estudo analisa o impacto bolsista da atribuição do Campeonato do Mundo de Futebol
2030, com especial ênfase nos mercados financeiros de Portugal, Espanha, Marrocos e
Argentina. Através da metodologia Event Study, a investigação avalia a reação dos investidores
à divulgação de informações sobre o evento, identificando padrões de retornos anormais e sua
significância estatística, com base na literatura sobre grandes eventos desportivos.
Os resultados indicam que, de modo geral, a reação dos mercados financeiros a estes anúncios
foi de curta duração, com uma leve valorização nas cotações dos ativos após a oficialização da
candidatura e um aumento mais expressivo após a confirmação oficial pela Fédération
Internationale Football Association (FIFA). No entanto, as reações observadas não
apresentaram significância estatística, sugerindo que os investidores anteciparam, em grande
parte, os efeitos do evento ou consideraram os benefícios económicos relativamente limitados.
Em termos setoriais, os setores mais diretamente afetados, tais como a construção, o turismo,
os transportes, as comunicações, a media e a restauração, apresentaram ganhos iniciais
moderados, embora a significância dessas reações tenha sido limitada. A análise geográfica
mostrou que Marrocos e Argentina registaram ganhos mais sustentados, ao contrário de
Portugal e Espanha, refletindo diferenças nas perceções de investimento e visibilidade
internacional.
Esta investigação contribui para a compreensão da sensibilidade do mercado à divulgação de
grandes eventos, oferecendo insights valiosos para investidores, decisores políticos e
académicos interessados no impacto económico e financeiro de grandes eventos desportivos
internacionais.
This study analyzes the stock market impact of the assignment of the 2030 FIFA World Cup, with a particular focus on the financial markets of Portugal, Spain, Morocco, and Argentina. Using the Event Study methodology, the research assesses investor reactions to the disclosure of information about the event, identifying abnormal return patterns and their statistical significance, based on the literature on major sports events. The results indicate that, in general, the reaction of the financial markets to these announcements was short-lived, with a slight increase in asset prices following the official candidacy announcement and a more significant rise after the official confirmation by Fédération Internationale Football Association (FIFA). However, the observed reactions did not present robust statistical significance, suggesting that investors largely anticipated the effects of the event or considered limitated economic benefits. In sectoral terms, the sectors most directly affected, such as construction, tourism, transport, communications, media, and food service, showed moderate initial gains, although the significance of these reactions was limited. The geographical analysis revealed that Morocco and Argentina experienced more sustained gains, unlike Portugal and Spain, reflecting differences in investment perceptions and international visibility. This research contributes to understanding the market's sensitivity to the announcement of major events, providing valuable insights for investors, policymakers, and academics interested in the economic and financial impact of international sports mega-events.
This study analyzes the stock market impact of the assignment of the 2030 FIFA World Cup, with a particular focus on the financial markets of Portugal, Spain, Morocco, and Argentina. Using the Event Study methodology, the research assesses investor reactions to the disclosure of information about the event, identifying abnormal return patterns and their statistical significance, based on the literature on major sports events. The results indicate that, in general, the reaction of the financial markets to these announcements was short-lived, with a slight increase in asset prices following the official candidacy announcement and a more significant rise after the official confirmation by Fédération Internationale Football Association (FIFA). However, the observed reactions did not present robust statistical significance, suggesting that investors largely anticipated the effects of the event or considered limitated economic benefits. In sectoral terms, the sectors most directly affected, such as construction, tourism, transport, communications, media, and food service, showed moderate initial gains, although the significance of these reactions was limited. The geographical analysis revealed that Morocco and Argentina experienced more sustained gains, unlike Portugal and Spain, reflecting differences in investment perceptions and international visibility. This research contributes to understanding the market's sensitivity to the announcement of major events, providing valuable insights for investors, policymakers, and academics interested in the economic and financial impact of international sports mega-events.
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Retornos anormais Mercados financeiros Eficiência de mercado Impacto bolsista Grandes eventos desportivos Campeonato do Mundo de Futebol 2030 Abnormal returns Financial markets Market efficiency Stock market impact Major sports events Gestão . Faculdade de Ciências Sociais